Assmang Limited - Joint press release by Assmang and Spoornet
ASSMANG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1935/007343/06)
Share code: ASG ISIN: ZAE000030789
(`the Company` or `the Group`)
Joint press release by Assmang and Spoornet
Assmang to expand iron ore exports
Spoornet and Assmang, the iron ore miner and exporter in the Northern Cape, have
concluded negotiations regarding export capacity on the Orex rail line to
Saldanha Bay, and announce jointly that the company`s iron ore export allocation
is to increase substantially by 2009/10.
Transnet announced in the past week that the capacity on the Orex rail line
would increase from the current 29 million to about 41 million tons per annum by
2009/10, which will be adequate to cope with Assmang`s envisaged expansion.
Assmang is currently exporting about 6 million tons per annum, and it plans to
increase exports of its iron ore to about 10 m tons per annum by 2010.
Assmang is conducting a feasibility study to expand its iron ore export capacity
by establishing a new mine, at an estimated cost of R1,5 to R2,0 billion, on the
farms Bruce, King and Mokaning (`BKM Mine`) adjacent to Kumba`s Sishen Mine.
The BKM mine will substantially replace its current Beeshoek Mine near
Postmasburg. The BKM Mine is scheduled to export about 10 million tons per
annum by 2010 and an increase to an estimated 15 million tons per annum is
envisaged by 2015. This latter phase of the expected increase in export volumes
from 10 to 15 million tons per annum is the subject of a current feasibility
study by Transnet to increase the Orex capacity beyond 41 million tons per
annum.
ENDS
Enquiries:
Assmang
Jan Steenkamp Phil Crous
Phone: +27(0)11 779 1106 Phone: +27(0)11 770 6909
Mobile: +27(0)82 492 6948 Mobile: +27(0)83 250 9994
ARM
Corne Bobbert
Phone: +27(0)11 779 1478
Mobile: +27(0)83 380 6614
Spoornet
Molatwane Likhethe
Phone: +27(0)11 774 4400
Mobile: +27(0)83 300 9586
Johannesburg
11 March 2005
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